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" In 2014, corporate profits before taxes reached their highest share of the total economy in at least eighty-five years, tying the previous record set in 1942 when World War II pushed up profits (only to have most then taxed away). Between 2000 and 2014, quarterly corporate after-tax profits rose from $529 billion to $1.6 trillion. This rise didn’t reflect increasing returns to capital; it reflected increasing economic power. As I will show, this pushed the stock market to unprecedented heights, thereby enriching investors—most of whom are already in the upper ranks of the nation’s wealthy. Meanwhile, labor’s share of the economy has dropped. In 2000, labor’s share of nonfarm business income was 63 percent. In 2013, it was 57 percent, representing a shift from labor to capital of about $750 billion annually. Importantly, "

Robert B. Reich , Saving Capitalism: For the Many, Not the Few


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Robert B. Reich quote : In 2014, corporate profits before taxes reached their highest share of the total economy in at least eighty-five years, tying the previous record set in 1942 when World War II pushed up profits (only to have most then taxed away). Between 2000 and 2014, quarterly corporate after-tax profits rose from $529 billion to $1.6 trillion. This rise didn’t reflect increasing returns to capital; it reflected increasing economic power. As I will show, this pushed the stock market to unprecedented heights, thereby enriching investors—most of whom are already in the upper ranks of the nation’s wealthy. Meanwhile, labor’s share of the economy has dropped. In 2000, labor’s share of nonfarm business income was 63 percent. In 2013, it was 57 percent, representing a shift from labor to capital of about $750 billion annually. Importantly,